Top Sumter, MN Mortgage Lenders

RankSumter Mortgage LenderSumter Home Loans ProcessedSumter Home Loans ApprovedSumter Home Loans DeniedSumter Mortgage Median Loan to Income Ratio (LTR) for Approved LoansSumter Mortgage Median LTR for Denied Loans
1Wells Fargo Bank 1,005 67%14%
  • 199%
  • (311,000 Loan / $156,000 Income)
  • 227%
  • (155,000 Loan / $68,000 Income)
2Cornerstone Mortgage Company 200 87%3%
  • 266%
  • (184,000 / $69,000)
  • 356%
  • (107,000 / $30,000)
3Jpmorgan Chase Bank 172 83%10%
  • 203%
  • (163,000 / $80,000)
  • 261%
  • (157,000 / $60,000)
4Us Bank 144 77%12%
  • 209%
  • (46,000 / $22,000)
  • 301%
  • (235,000 / $78,000)
5Midcountry Bank 140 69%14%
  • 164%
  • (226,000 / $137,000)
  • 290%
  • (58,000 / $20,000)
6Novationcreditunion 120 70%13%
  • 53%
  • (55,000 / $103,000)
  • 54%
  • (25,000 / $46,000)
7Countrywide Bank Fsb 100 78%16%
  • 223%
  • (143,000 / $64,000)
  • 314%
  • (154,000 / $49,000)
8Citimortgage 97 84%5%
  • 264%
  • (132,000 / $50,000)
  • 208%
  • (77,000 / $37,000)
9First Minnesota Bank 96 72%11%
  • 141%
  • (48,000 / $34,000)
  • 145%
  • (48,000 / $33,000)
10Kleinbank 77 68%16%
  • 161%
  • (102,000 / $63,000)
  • 255%
  • (153,000 / $60,000)
11Agstar Financial Services 77 67%5%
  • 214%
  • (137,000 / $64,000)
  • 234%
  • (485,000 / $207,000)
12Bank Of America 75 84%12%
  • 345%
  • (221,000 / $64,000)
  • 300%
  • (138,000 / $46,000)
13Citibank 69 73%11%
  • 178%
  • (164,000 / $92,000)
  • 158%
  • (135,000 / $85,000)
14Wells Fargo Funding 62 98%1%
  • 265%
  • (297,000 / $112,000)
  • 605%
  • (230,000 / $38,000)
15Phh Mortgage Corporation 62 79%4%
  • 232%
  • (130,000 / $56,000)
  • 316%
  • (177,000 / $56,000)
16Wells Fargo Fin'l Minnesota 49 16%51%
  • 309%
  • (127,000 / $41,000)
  • 270%
  • (189,000 / $70,000)
17Hfc Company Llc 49 4%73%
  • 364%
  • (164,000 / $45,000)
  • 260%
  • (151,000 / $58,000)
18Countrywide Home Loans 49 77%14%
  • 293%
  • (179,000 / $61,000)
  • 232%
  • (251,000 / $108,000)
19Beneficial Company Llc 40 5%75%
  • 300%
  • (186,000 / $62,000)
  • 250%
  • (175,000 / $70,000)
20Embrace Home Loans, 33 6%51%
  • 331%
  • (149,000 / $45,000)
  • 246%
  • (101,000 / $41,000)

Sumter, MN Mortgage Home Loan Summary Data & Statistics

  1. Loan Applications Processed: 3,855
  2. Loan Applications Denied: 708
  3. % of Loan Applications Denied: 18
  4. # of Loan Originations: 2,480
  5. % of Loan Applications Originated 64

Sumter, MN Home Loan Application Denied Reasons

Denied Reason % of All Denied Applications
Collateral30
Credit history22
Debt-to-income ratio20
Credit application incomplete5
Unverifiable information2

Sumter, MN Mortgage Loans Processed & Denied Applications by Loan Amount

Loan Amount Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,0001,164 6120
$100,000 - $300,0002,465 6516
$300,000 - $500,000217 5724
$500,000 - $1,000,0009 3366

Sumter, MN Home Loans Processed & Denied Applications by Income Level

Income Levels Category Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
$0 - $100,0003,073 6119
$100,000 - $300,000752 7013
$300,000 - $500,00015 6620
$500,000 - $1,000,0008 750
$1,000,000 - $1,500,0003 1000
$1,500,000 - $2,000,0001 1000
> $2,000,0003 990

Loan to Income Ratios Research for Mortgage in Sumter, MN

Loan to Income Ratio (Loan Amount as a Percentage of Income Levels) Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
0 - 30%14561 20
30 - 60%25154 23
60 - 100%28064 17
100 - 200%1,00372 11
200 - 300%1,08264 17
300 - 400%69263 20
> 400%40248 30

Sumter, MN Home Owner Occupancy Type Mortgage Data

Owner Occupancy Name Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
Owner-Occupied As A Principal Dwelling3,716 6418
Not Owner-Occupied As A Principal Dwelling134 6717
Not Applicable5 6040

Home Owner Property Type Statistics in Sumter, MN for Home Loans

Property Type Name Number of Loan Applications Processed % of Loans Originated % of Loan Applications Denied
One-To-Four Family Dwelling (Other Than Manufactured Housing)3,790 6417
Manufactured Housing65 4944
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